{"id":88681,"date":"2024-12-17T00:00:00","date_gmt":"2024-12-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/12\/17\/today-cmgps-ipo-was-37x-oversubscribed-a-new-electric-bus-factory-for-qatar\/"},"modified":"2024-12-17T00:00:00","modified_gmt":"2024-12-17T00:00:00","slug":"today-cmgps-ipo-was-37x-oversubscribed-a-new-electric-bus-factory-for-qatar","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/12\/17\/today-cmgps-ipo-was-37x-oversubscribed-a-new-electric-bus-factory-for-qatar\/","title":{"rendered":"TODAY: CMGP\u2019s IPO was 37x oversubscribed + A new electric bus factory for Qatar"},"content":{"rendered":"

Good morning, ladies and gents. <\/strong>It\u2019s a brisk issue as we hit mid-week, with news on Morocco\u2019s CMGP\u2019s IPO and a W for Qatar\u2019s green mobility sector. But first, climate change driven weather disasters continue to break records\u2026<\/p>\n

THE BIG CLIMATE STORY OUTSIDE THE REGION- Cyclone Chido wreaks havoc on <\/strong>Mayotte: <\/strong>Category 4 Cyclone Chido has hit the southwestern Indian Ocean with 220 kmph winds, slamming into France\u2019s Mayotte islands territory before weakening in Mozambique. The storm \u2014 the strongest to hit the region in almost 100 years \u2014 14 people have been confirmed dead, but actual casualties are feared to be in the hundreds or thousands. <\/p>\n

\u2018<\/strong>It\u2019s as if an atomic bomb fell on Mayotte\u2019: <\/strong>The damage sustained by Mayotte is so severe that one resident compared it to an atomic bomb. \u201cThe situation is catastrophic, apocalyptic,\u201d one resident told CNN. The storm wiped out neighborhoods, electrical grids, schools, and hospitals in the poorest place affiliated with the EU, leaving two-thirds of the island unreachable.<\/p>\n

All driven by climate change: <\/strong>Tropical cyclones \u2014 also known as typhoons or hurricanes \u2014 are becoming more destructive and intense as oceans warm with more energy and warmer air holds more moisture to produce torrential rain. <\/p>\n

The story grabbed widespread ink in the international press:<\/strong> Reuters<\/a> | Financial Times<\/a> | The New York Times<\/a> | Bloomberg<\/a> | The Washington Post<\/a> | CNN<\/a> | BBC<\/a> | The Guardian<\/a> | The Independent<\/a> | DW<\/a> | Axios<\/a> | NBC<\/a> <\/p>\n

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WATCH THIS SPACE-<\/p>\n

#1- Egypt is seeking EGP 68 bn loans to finance grid infrastructure equipment: <\/strong>The state-owned Egyptian Electricity Transmission Company (EETC) is looking to borrow EGP 68 bn to finance electrical equipment and transformers imports for use in domestic projects, government officials told Asharq Business<\/a>. The funding will likely come from the National Bank of Egypt, Banque Misr, and Banque du Caire, which have already received the Central Bank\u2019s greenlight to begin arranging financing. <\/p>\n

<\/a>#2- Trump administration may axe EV support with protective caveats for batteries + critical minerals projects:<\/strong> The Trump transition team is recommending a sweeping reversal of Biden's EV policy, calling for scrapping subsidies for charging infrastructure and EV production and consumption stimuli while maintaining strong support for critical minerals and batteries, citing their defense purposes use, Reuters<\/a> reports, citing a transition document it has seen. The recommendations will, however, maintain Biden\u2019s aggressive approach that sought to secure the country\u2019s batteries and critical minerals supply chains from China\u2019s influence. <\/p>\n

Key proposals in the transition plan include: <\/strong><\/p>\n